MicroStrategy Stock Is Crumbling as Bitcoin Slides and Rates Rise
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Bitcoin’s tumbling price is dragging down MicroStrategy’s stock.
Dreamstime
MicroStrategy, a software and Bitcoin holding company, was tumbling again as the price of the crypto continued to slide.
Shares of MicroStrategy (ticker: MSTR) were down 23% in trading Monday, to around $227 a share. The company held 129,218 Bitcoins on its balance sheet at the end of March, or about $4.1 billion at recent prices of $32,000 per coin. No other publicly traded U.S. operating company holds as much Bitcoin.
MicroStrategy…
